Answer: The total interest paid on the mortgage is $179550
Step-by-step explanation:
The initial cost of the property is $300000. If he deposits $30000, the remaining amount would be
300000 - 30000 = $270000
Since the remaining amount was compounded, we would apply the formula for determining compound interest which is expressed as
A = P(1+r/n)^nt
Where
A = total amount in the account at the end of t years
r represents the interest rate.
n represents the periodic interval at which it was compounded.
P represents the principal or initial amount deposited
From the information given,
P = 270000
r = 2% = 2/100 = 0.02
n = 12 because it was compounded 12 times in a year.
t = 25 years
Therefore,
A = 270000(1+0.02/12)^12 × 25
A = 270000(1+0.0017)^300
A = 270000(1.0017)^300
A = $449550
The total interest paid on the mortgage is
449550 - 270000 = $179550
Answer:
9.0586 OR
9.06
Step-by-step explanation:
IDK, used fusion 360
Answer:
for quadratic equation 1
y^2-10y+21=0
Step-by-step explanation:
y^2-7y-3y+21=0
y(y-7)-3(y-7)=0
(y-7)(y-3)=0
y-7=0,y-3=0
y=7,y=3
y=(3,7)
for quadratic equation 2
16p^2-8p+1=0
16p^2-4p-4p+1=0
4p(4p-1)-1(4p-1)=0
(4p-1)twice=0
4p-1=0,4p-1=0
4p=1
p=1/4 twice
for quadratic equation 3
x^2-400=0
x^2=400
x=√400
x=20
for quadratic equation 4
-16m^2-8m-1=0
multiply the equation by -
16m^2+8m+1=0
16m^2+4m+4m+1=0
4m(4m+1)1(4m+1)=0
4m+1=0 twice
m=-1/4 twice
for quadratic equation 5
-3n^2+75=0
divide both side by -3
-3n^2/-3=-75/-3
n^2=25
n=√25
n=5
1st one: since we are dealing with the same unit, months and aid cannot mix so this is wrong
2nd one: doesn't include the 2.59 so this is wrong
3rd one: includes both 70% and 2.59 so this is correct
4th one: this doesn't include a greater than sign > so this is wrong
the answer is the 3rd one
Birmingham and Montgomery both have a state sales tax rate of 4 percent and a local tax rate of 6 percent – although the report notes that part of Birmingham lies in Shelby County, meaning the combined rate is only 9 percent in some parts of the city.
